Mealey's Securities/D&O Liability - 2nd Circuit Panel Affirms Dismissal Of AIG Bailout Lawsuit

Mealey's Securities/D&O Liability - 2nd Circuit Panel Affirms Dismissal Of AIG Bailout Lawsuit

NEW YORK - A federal judge in New York did not err in dismissing a shareholder's securities lawsuit against the Federal Reserve Bank of New York (FRBNY) because its acquisition of American International Group (AIG) during the financial crisis did not violate Delaware fiduciary duty law, a Second Circuit U.S. Court of Appeals panel ruled Jan. 29 (Starr International Co. Inc., individually and derivatively on behalf of American International Group Inc. v. Federal Reserve Bank of New York, et al., No. 12-5022, 2nd Cir.).

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